Rhode Island § 35-8-6.2 § 35-8-6.2. Sinking funds to replace bond issuance.

Rhode Island Statutes

§ 35-8-6.2 — § 35-8-6.2. Sinking funds to replace bond issuance.

Rhode Island § 35-8-6.2

Title 35Public Finance

Ch. 35-8Bonded Indebtedness of State

This text of Rhode Island § 35-8-6.2 (§ 35-8-6.2. Sinking funds to replace bond issuance.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 35-8-6.2 (2026).

Text

§ 35-8-6.2. Sinking funds to replace bond issuance.
(a) Prior to the issuance of previously authorized general obligation debt contained in
            the capital improvement plan, the sinking fund commission may cause a savings analysis
            to be performed to determine if the estimated savings resulting from the defeasance
            of the general obligation debt recommended for defeasance by the sinking fund is more
            or less than the savings which would be achieved if the previously authorized general
            obligation debt were not issued. In the event that the sinking fund commission makes
            a finding that the savings would be greater from not issuing the previously author

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§ 35-8-6.2. Sinking funds to replace bond issuance.

(a) Prior to the issuance of previously authorized general obligation debt contained in the capital improvement plan, the sinking fund commission may cause a savings analysis to be performed to determine if the estimated savings resulting from the defeasance of the general obligation debt recommended for defeasance by the sinking fund is more or less than the savings which would be achieved if the previously authorized general obligation debt were not issued. In the event that the sinking fund commission makes a finding that the savings would be greater from not issuing the previously authorized general obligation debt, then the sinking fund commission may use sinking funds to replace, in whole or in part, the same debt authorization.

(b) Upon the sinking fund commission's determination to use sinking funds to replace, in whole or in part, authorized but unissued general obligation debt authorization, the amount designated by the sinking fund commission is hereby appropriated for that purpose.